Richardson East Rotary Foundation is located in Richardson, TX. The organization was established in 2004. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richardson East Rotary Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Richardson East Rotary Foundation generated $81.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $49.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING SCHOLARSHIPS TO LOCAL HIGH SCHOOL STUDENTS WHO ARE PLANNING TO PURSUE A COLLEGE DEGREE; PARTNER WITH THE CITY OF RICHARDSON, TX TO PROVIDE FUNDING FOR AN INCLUSIVE PLAYGROUND.
Describe the Organization's Program Activity:
Part 3
COMMUNITY SERVICE WAS PROVIDED TO THE RICHARDSON TX COMMUNITY BY PROVIDING CONTINUING FINANCIAL SUPPORT TO THE CITY OF RICHARDSON (COR) TO BUILD A NEW ALL-INCLUSIVE PLAYGROUND FOR ITS RESIDENTS AND TO MEMBERS OF THE LARGER COMMUNITY. IN PREVIOUS FISCAL YEARS, THE FOUNDATION AND ITS SPONSOR ORGANIZATION, THE RICHARDSON EAST ROTARY CLUB (RERC), AGREED TO RAISE $250,000 TOWARD THE CONSTRUCTION AND EQUIPPING OF THE PARK. DURING THE CURRENT FISCAL YEAR, THE FOUNDATION RAISED $367,013 FOR THE PROJECT. IN ADDITION, THE FOUNDATION PROVIDED $14,750 OF SCHOLARSHIP PAYMENTS TO CURRENT AND PRIOR YEAR RECIPIENTS AND APPROXIMATELY $9,403 OF FUNDING FOR OTHER COR PUBLIC EVENTS INCLUDING $1,503 PROVIDED TO FUND THE COST OF A COMMUNITY PICNIC AT A COR PUBLIC PARK AND $7,500 TO PROVIDE GARDEN LANDSCAPING AT THE PARK ADJACENT TO THE INCLUSIVE PLAYGROUND. OTHER EXPENSES BENEFITTING THE COMMUNITY INCLUDED $2,398 TO SUPPORT THE RICHARDSON CHAMBER OF COMMERCE AND $1,000 TO SUPPORT THE CITY OF DALLAS VETERANS DAY PARADE.
THE FOUNDATION PARTNERED WITH THE ROTARY FOUNDATION (RF), AN AFFILIATED 501(C)(3) ORGANIZATION LOCATED IN CHICAGO, IL BY PROVIDING $7,917 IN SUPPORT OF ITS PHILANTHROPIC PROGRAMS. THE RF OPERATES WORLD-WIDE AND SUPPORTS A NUMBER OF HUMANITARIAN PROJECTS SUCH AS LITERACY, POLIO ERADICATION, WORLD PEACE AND WATER AND SANITATION PROJECTS IN DEVELOPING COUNTRIES. IN KEEPING WITH SUPPORT OF HUMANITARIAN PROJECTS, THE RICHARDSON EAST ROTARY FOUNDATION GAVE $1,000 TOWARD DENTAL SERVICE PROJECTS IN UNDERPRIVILEGED AREAS.
THE FOUNDATION PROVIDED $1,350 IN SCHOLARSHIPS TO HIGH SCHOOL SENIORS TO ATTEND A YOUTH LEADERSHIP CAMP SPONSORED BY AN AFFILIATED ORGANIZATION, ROTARY YOUTH LEADERSHIP AWARD. THE GOAL OF THE WEEK LONG CAMP IS TO HELP HIGH SCHOOL STUDENTS WHO HAVE COMPLETED THEIR JUNIOR YEAR TO BECOME LEADERS AMONG THEIR PEERS BY TEACHING TEAM BUILDING, COMMUNICATION AND PROBLEM SOLVING SKILLS - ALL WHILE ENGAGED IN DYNAMIC CAMP ACTIVITIES. THE FOUNDATION ALSO PROVIDED $1,125 TO SHOW APPRECIATION FOR LOCAL TEACHERS AND STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas Hummel Treasurer | 1 | $0 | |
David Frazee President | 1 | $0 | |
Stephanie South Director | 1 | $0 | |
Tommie Wright Director | 1 | $0 | |
Bruce Macpherson Director | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $52,937 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $32 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $28,005 |
Other Revenue | $0 |
Total Revenue | $80,974 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $0 |
Professional fees and other payments to independent contractors | $0 |
Occupancy, rent, utilities, and maintenance | $0 |
Printing, publications, postage, and shipping | $0 |
Other expenses | $255 |
Total expenses | $49,270 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $86,583 |
Other assets | $0 |
Total assets | $187,811 |
Total liabilities | $114,733 |
Net assets or fund balances | $73,078 |
Over the last fiscal year, Richardson East Rotary Foundation has awarded $384,333 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
CITY OF RICHARDSON TX PURPOSE: Support | $376,416 |
Evanston, IL PURPOSE: Support | $7,917 |
Over the last fiscal year, we have identified 1 grants that Richardson East Rotary Foundation has recieved totaling $6,911.
Awarding Organization | Amount |
---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $6,911 |
Organization Name | Assets | Revenue |
---|---|---|
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |
Kimberly-Clark Foundation Inc Irving, TX | $0 | $5,825,814 |
San Antonio Livestock Exposition Educational Fund Inc San Antonio, TX | $23,576,511 | $4,942,243 |
The Forte Foundation Austin, TX | $3,571,246 | $5,400,451 |
Usaa Educational Foundation San Antonio, TX | $96,381,454 | $7,561,828 |
Ulm Athletic Foundation Monroe, LA | $3,668,358 | $2,963,740 |
Panhandle-Plains Higher Education Foundation Inc Canyon, TX | $182,464,704 | $13,006,465 |
American Indian Graduate Center Scholars Albuquerque, NM | $1,252,569 | $3,993,312 |